MMCS Bhd managing director Macken Young Yoong Chang describes his IT business as a necessity. The demand for IT, he says, is inelastic . . . almost as important as food security.
By TEE LIN SAY
linsaytee@suketv.com
9 July 2026, 5:20pm
KUALA LUMPUR: About a month ago on June 11, without much fanfare, MM Computer Systems Bhd (MMCS), was listed on the ACE Market of Bursa Malaysia at an initial public offering (IPO) price of 22 sen.
It ended the day, with the stock closing marginally above its IPO price at 22.5 sen.
Just another ordinary company making its Bursa debut right?
After all, an information technology (IT) solutions provider typically does not elicit the same kind of hype that a semiconductor or retail chain IPO does.
What is so exceptional about another IT company that deals with servers, storage, configures networks and integrates Artificial Intelligence (AI) solutions?
Well, two weeks after the listing, MMCS’ share price began to appreciate, certainly not behaving like an IT company with dim growth prospects.
Then on June 30, MMCS tells shareholders that it has secured two contracts from Customer A (a government-linked company (GLC)) involved in electricity transmission) for the provision of server and network maintenance support services works for RM24.54 million.
This contract size was more than double the size of MMCS’ net profit of RM10.12 million for its financial year ended Dec 31, 2025 (FY25).
While this contract might be small when compared to a construction project, it is huge by IT proportions.
In the sea of IT players, think of MMCS as a big boy among its peers.
This is evident in the size, scope and significant recurring income MMCS has been generating.
Looking at MMCS’ revenue for FY25, the company recorded top line revenue of RM98.7 million while net profits were a decent RM10.1 million.
While one might feel these are numbers that are expected of a public listed company, it is rare for an IT company to achieve revenues close to the RM100mil mark.
Furthermore, the company’s earnings have been growing at a compounded rate of 37.81% over the last four years.
It has informally guided that it looks to grow 20% in 2026, implying a top line of some RM120 million.
Perhaps the market is perking up.
Barely a month after its listing, the stock is up 45%, trading at the 32 sen level.
Meet Macken - MMCS’ Computer Whiz Founder
MMCS is led by its managing director, 53-year-old Macken Young Yoong Chang, who presently controls 33.02% of the company.
Young is your typical Chinese-educated entrepreneur who is a workaholic and shuns the limelight.
Interestingly he is a vegetarian too.
Staff say it is normal to see Young leaving the office at 1am. In fact, he often looks rejuvenated following the long day at work.
Well, Young is a man on a mission.
It is his long-term goal for MMCS to be Malaysia's preferred IT solutions and cybersecurity partner for GLCs and large enterprises.
In years to come, when investors think of Malaysia’s digital economy – whether in terms of IT infrastructure, networking or cybersecurity, Young wants investors to think of MMCS.
Young describes his business as a necessity. The demand for IT, he says, is inelastic . . . almost as important as food security.
“In today’s world, IT and digitalisation are an absolute must for every business no matter the industry.
Looking at the trend over the next 3 to 5 years, Young says the bread and butter requirement for most enterprises would be to upgrade or replace their existing servers, storage or networks equipped with AI solutions.
“We are seeing first-hand, the growing demand for AI, digitalisation and cybersecurity not just among the GLCs, but even among the small enterprises.
“So I see MMCS acting as a bridge. We help build and manage the IT systems needed for companies to run AI. You can call us the AI infrastructure enabler,” explains Young.
Young co-founded MMCS’ subsidiary MTS back in 2003 at the age of 30 with fellow MMCS executive director Lee Choon Weng.
In his twenties, Young was already making waves in the IT industry.
As a 23-year-old kid working for Computer System Advisers (M) Bhd in 1995, his ability to troubleshoot just about anything, was well known.
He was solving critical support cases and became the company’s go-to specialist for unresolved issues.
With his natural talent for all things computer, he was able to diagnose and remedy network operating system issues that were not in vendor manuals.
This earned him direct commendations from clients.
By 25, he was leading projects where he was also designing and implementing networking solutions.
In one standout engagement, he masterminded a segmented network infrastructure that enabled multiple virtual local area networks to operate from a single master network.
This was something which was not available in standard vendor platforms.
This performance sealed Young’s reputation as the GOAT of his time.
Strong Recurring Income From The GLCs
While most IT companies typically rely on the sale of IT hardware, nearly half of MMCS’s earnings are derived from GLC clients, and predominantly for design, implementation and configuration works.
The sale of hardware only contributed 17.6% of MMCS’ revenue in FY25.
Meanwhile, GLC clients made up a respectable 49.8% of MMCS’ revenue last year.
“The requirements of the GLCs are a lot more complex and specialised than normal companies. They need an IT service provider with a high level of expertise and urgency to get the job done.
“Having done works for many of them, we understand the requirements needed,” says Young.
As at FY25, MMCS has served 15 GLCs, of which seven are repeat customers and provide recurring income.
The recurring income now makes up 31.2% of revenue, with the renewal contracts ranging from 1 to 5 years.
Young adds that the increasing demand for larger and more complex contracts from the GLCs are the main reasons why MMCS embarked on its listing exercise.
“In the past, we were invited to tender for big projects . . . but we were always hesitant due to a lack of resources and manpower. With funds from the listing, we can now comfortably embark on these larger projects,” said Young.
Out of the RM26.18 million raised during the IPO, MMCS is putting aside RM16.93 million for the procurement of IT hardware and software.
Another RM3.1 million has been earmarked to recruit a larger and more specialised workforce.
A 23 Year Track Record
Based in Kuala Lumpur, MMCS has been operating for 23 years, where it serves GLCs, corporations, and resellers across Malaysia via its subsidiaries Micro Technology Solution Sdn Bhd (MTS) and SMIND Sdn Bhd (SMIND).
MMCS designs and implements IT infrastructure and networking solutions. It also offers cybersecurity solutions, provides IT outsourcing services, sells and leases IT hardware and software.
The group currently has 105 ongoing contracts with total unrecognised revenue of RM105.37 million, that will last the company up to 2029.
It is currently participating in various tenders with an estimated tender sum of RM127.13 million.
For its listing exercise, the group offered a 29.34% stake in the company to the public.
This consisted of 119 million new shares and an offer for sale of 47.34 million shares from selling shareholders.
With a total of 567 million shares, MMCS currently has a market capitalisation of RM181.44 million.
This values the company at about 15 times earnings in FY2025.
It will be interesting to see if MMCS undertakes bigger contracts now that it is equipped with firepower from its listing exercise.
Web Edited by YAN PHENG LIANG
yanphengliang@suketv.com